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Local Bounti (NYSE: LOCL), a U.S. indoor agriculture company, reported Q2 2025 financial results with revenue growing 28% year-over-year to $12.1 million. The company achieved $7 million in annualized expense reductions in H1 2025 and plans additional $2.5-3 million cost optimizations in H2 2025.
Key developments include closing a $10 million convertible note and amending credit facility with $10 million principal debt reduction. The company completed Texas facility reconfiguration and expects to achieve positive adjusted EBITDA in early 2026. Q2 adjusted gross margin was 30%, with net loss of $21.6 million, improving from $25.3 million loss in the prior year period.
The company expanded its relationship with Walmart and launched new salad kit products, while implementing yield improvement and cost reduction initiatives across its facility network.Local Bounti (NYSE: LOCL), a U.S. indoor agriculture company, has appointed Dane Almassy as Chief Commercial Officer (CCO), effective August 25, 2025. Almassy brings over 20 years of experience in strategic growth, operational efficiency, and brand development across CPG and agriculture sectors.
The new CCO's extensive background includes 10 years at PepsiCo in national sales and strategy roles, followed by leadership positions at WhiteWave Foods, Aurora Organic Dairy, and F&S Produce. Most recently, he served as SVP of Sales & Marketing at AeroFarms. Almassy also serves on the leadership board of the CEA Food Safety Coalition.
Local Bounti (NYSE: LOCL), a U.S. indoor agriculture company, has scheduled its Q2 2025 financial results release for Wednesday, August 13, 2025, before market open.
The company will host a conference call at 8:00 a.m. ET on the same day, featuring the executive management team. North American participants can dial (877) 514-3623, while international callers should use +1 (201) 689-8768.
A live webcast will be available on the company's website's "Investors" section, with a replay accessible through August 20, 2025. For the playback, North American listeners can call (877) 660-6853, international listeners (201) 612-7415, using passcode 13754459.
Local Bounti (NYSE: LOCL), a U.S. indoor agriculture company, has secured additional financing through a $10 million convertible note from an existing investor and amended its credit facility to reduce principal debt by $10 million.
The convertible note features a 5-year maturity and 6.0% annual interest rate payable in kind. As part of the deal, the company will issue warrants to purchase up to 550,000 shares of common stock at $0.125 per share. The remaining terms of the senior debt facility remain aligned with agreements from March 31, 2025.
Local Bounti Corporation (NYSE: LOCL), a U.S. indoor agriculture company, has scheduled its Q1 2025 financial results release for Wednesday, May 14, 2025, before market opening. The company will host a conference call at 8:00 a.m. ET the same day to discuss the results and provide business updates.
North American participants can dial (877) 514-3623, while international callers should use +1 (201) 689-8768. The webcast will be available on Local Bounti's website investor section and archived for later viewing. A playback option will be accessible until May 21, 2025, via (877) 660-6853 for North America and (201) 612-7415 for international calls, using passcode 13753817.
Local Bounti (NYSE: LOCL) announced its full year 2024 financial results, securing $27.5 million in new funding and completing a significant debt restructuring. Sales increased 38% to $38.1 million in 2024, with gross profit at $4.1 million.
The company announced leadership changes with Kathleen Valiasek succeeding Craig Hurlbert as CEO, while securing a transformative financing package including $25 million in equity proceeds and $2.5 million in capex financing. The debt restructuring resulted in a 40% reduction through extinguishment of approximately $197 million, lower interest rates, and extended repayment terms until April 2027.
Local Bounti expanded its distribution network with Walmart, now serving 191 stores with premium baby leaf varieties, and secured additional commitments for 13 Walmart distribution centers. The company expects to reach positive adjusted EBITDA in Q3 2025, with Q1 2025 sales projected at approximately $11.5 million.
Local Bounti (NYSE: LOCL), a U.S. indoor agriculture company, has scheduled the release of its full year 2024 financial results for Monday, March 31, 2025, after market close. The company will host a conference call with executive management at 4:30 p.m. ET on the same day.
Investors can participate through North American dial-in (877) 514-3623 or international dial-in +1 (201) 689-8768. The webcast will be available on the company's investor relations website and archived online. A playback option will be accessible until April 7, 2025, via North American number (877) 660-6853 or international number (201) 612-7415, using passcode 13752713.
Local Bounti (NYSE: LOCL) has secured a two-year award to supply living butter lettuce to 13 distribution centers of a large multinational retailer. The products will be supplied from Local Bounti's California and new Texas facilities. CEO Craig Hurlbert highlighted this award as evidence of growing demand for fresh, sustainable, locally grown produce and the company's strategy to address capacity needs across the southern U.S. The company's customer-centric approach focuses on aligning capacity with specific customer demand, optimizing facilities for specific products that meet customer distribution plans. Local Bounti anticipates reaching positive adjusted EBITDA during the second quarter of 2025.
Local Bounti (NYSE: LOCL) reported Q3 2024 financial results with sales increasing 50% to $10.2 million compared to $6.8 million in the prior year. The company reported a gross profit of $1.4 million with an adjusted gross margin of 32%. Operating loss improved by $1.0 million to $18.0 million, while net loss was $34.3 million. The company expanded its product assortment with high-velocity offerings and expects Q4 revenues of approximately $11 million. Local Bounti anticipates reaching positive adjusted EBITDA in Q2 2025, though this timeline has been shifted due to strategic production mix realignment.
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